Life insurance is considered essential to keep the family protected, mainly in those cases in which the family depends economically on the income of the person who hires it. The main purpose of life insurance is to protect children and/or spouse and reduce the economic impact that occurs with the death of the policyholder.
Life insurance is a complicated product to buy. You have to evaluate your needs and figure out a way to protect these needs in the event that something unfortunate should happen to you. It is a fantastic idea to insulate yourself against these important events, especially in the case when you are working in an office, where you can never know what will happen next. Finding the best deals for life insurances is one of those things that most people never get around to doing.
Life insurance can be a very profitable investment for anyone who looks at it from the right perspective. But there are some people who are not aware of all the benefits life insurance can provide. The main benefits of life insurance are: – Insurance of a life event – Insurance of the death of a loved one – Insurance against the disability of a loved one – Making the best use of an inheritance.
Life insurance has three modalities: Life Risk, Life Savings and Mixed Life.
Life insurance covers the insured in the event of death, in the event of a serious accident that may cause disability or in the diagnosis of a serious illness. It is important that life insurance fits your lifestyle, family, needs and budget, since its coverage can make a difference in your future.
We list some of the advantages of having life insurance:
Financial security for your family
They are a good way to secure the future of your family. If we live with people dependent on us, by contracting life insurance we will be guaranteeing their safety and well-being in the event that we are absent.
Protection in case of disability or illness
Life insurance not only protects the family nucleus, but also protects the policyholder. The capital can be used to cover the necessary expenses to deal with any of the circumstances that are contemplated in the policy and that we have suffered. Albeit the State at times, like reliance and handicap, gets a specific sum, by and large covering the results of the situation isn’t sufficient.
Liberated from obligations and duties
The capital got by the recipients in case of the passing of the protected is liberated from connections. This intends that, regardless of whether the obligations that the departed had while getting the legacy are dismissed, the extra security remuneration is gotten in full. The capital that family members gather for the passing of the protected isn’t dependent upon Legacy and Gift Duty (ISD), nor to IRPF.
Financial security against debt
They represent a guarantee when it comes to ending outstanding debts. The most common case being the payment of the mortgage, it is possible that after our death or inability to continue working we have not yet finished paying off all our debts, in this case the most common being a pending mortgage. Continuing to receive income from the insurer will allow our relatives to allocate the money to these types of payments and forget about them definitively. In this way, they will be able to allocate their own salaries in full to the well-being of the family, without the possibility that payments such as the mortgage end up suffocating them.
They adapt to your needs
Another advantage of life insurance is the possibility of modifying the policy over time. Along these lines, we can adjust the protection to the circumstances that grow, either by changing its inclusion or the rundown of recipients. Because of the various sorts of arrangements that exist on the lookout, the protected can pick the installment technique that suits him best (month to month, quarterly, semi-yearly or every year).